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Procedures & Methodology

TSI's clearly defined and transparent methodology is the backbone of its iron ore, steel, scrap and coking coal prices. TSI was the industry pioneer in compiling prices based on actual spot transaction data gathered directly from industry participants throughout the supply chain. TSI applies its methodology consistently in the compilation of all of its indices around the world, providing clients with the confidence they need that all its prices are directly comparable.

Over 550 companies ('Data Providers') have registered and been approved to submit their pricing information to TSI and, in exchange, they see their data represented in the respective index. This offers significant advantages over traditional 'telephone polling' approaches: it is fast, secure, verifiable and enables Data Providers all over the world to submit data at their convenience. More information can be found in the documents below.

Please select which methodology you would like to review:

TSI Steel Index Methodology

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TSI Iron Ore Index Methodology

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TSI Scrap Index Methodology

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TSI Coking Coal Index Methodology

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TSI's methodologies provide detailed descriptions and explanations of how it compiles its price indices so that all market participants can understand its processes and have confidence in them. For further information on its process for reviewing these methodologies and, if appropriate, implementing changes, please click here: TSI Methodology Review and Change Process

Regulatory Engagement

In 2014, Ernst & Young was engaged by Platts, TSI's parent company, to conduct an annual independent assurance review of its alignment to the IOSCO Principles for Oil Price Reporting Agencies (IOSCO PRA Principles).

The IOSCO PRA Principles, which set standards for governance and control systems, were introduced by the International Organization of Securities Commissions (IOSCO) and endorsed by the G20 in October 2012.

The reasonable assurance review by Ernst & Young was completed in February 2015 and included a comprehensive review of TSI's documentation of its processes for compiling benchmark prices used for iron ore, steel, coking coal and ferrous scrap contracts and observances of its practices in London and Singapore as at 28th February 2015.

The results confirmed TSI's alignment to the IOSCO PRA Principles. A reasonable assurance review is the highest standard for such a review.

IOSCO Assurance Review
For a copy of the report prepared by Ernst & Young


CLICK HERE

©The Steel Index 2015. The Steel Index is owned by Platts, part of McGraw Hill Financial.

Platts acquired the Steel Business Briefing Group, a leading information provider to the global steel market through its two core businesses, Steel Business Briefing (SBB) and The Steel Index (TSI) in July 2011. The acquisition of the SBB Group enables Platts to provide customers and the markets with the benefit of a larger, highly experienced editorial team, a dramatically expanded number of price assessments and a far more expansive product and conference mix. Click here for more information